Monday, January 25, 2016

Signature Flight Support's SJC Terminal Nears Completion

The new 10,000 SQFT terminal for corporate and private aviation at San Jose International looks just about ready based on Viki Thompson's photos in the SVBJ. The building has everything an executive could want in a facility. There is a kitchen stocked with snacks, conference rooms, co-working spaces, free magazines, and best of all there are no TSA security hassles to slow you down. You can be in one door and out the other in no time at all.

The project cost $82 million and also includes 250,000 SQFT of hangar space. About 150,000 SQFT of that space was supposed to house private planes for Google executives; however, now that they have control over Moffett Federal Airfield they will be subleasing the whole facility. This will provide a nice opportunity for larger tech companies in Silicon Valley that own a fleet of planes. Signature Flight Support already has 14 leases for the new hangar space, representing the full amount originally earmarked for Google. They expect to be fully leased within a matter of months.

As for the city of San Jose, the new facility will bring in $2.64 million each year in rent payments. There will also be some branding benefits for San Jose. For example, both the NFC and AFC champions will be flying into San Jose for the Super Bowl, and you can guess where the planes will go.